Commerce and Industry Minister Piyush Goyal has unveiled an ambitious plan to establish a new township dedicated to startups, aiming to create a rival to Bengaluru’s Silicon Valley. Speaking at an event in New Delhi on Monday, Goyal emphasized the need for a dedicated hub to support entrepreneurs, innovators, and disruptors.
“We should aspire to go beyond. We should aspire to have our own Silicon Valley… I know Bengaluru is the Silicon Valley of India, but it’s time we started thinking about tying up with NICDC and creating a whole new township dedicated to entrepreneurs, startups, innovators, and disruptors,” Goyal stated.
The National Industrial Corridor Development Corporation (NICDC), which oversees the National Industrial Corridor program, would play a key role in this initiative. The proposed township aims to offer a concentrated area specifically designed to support and nurture startups. Goyal envisions the new Silicon Valley to be built on a 500-acre site, providing resources and infrastructure for fledgling businesses.
Goyal proposed the creation of a comprehensive ecosystem featuring incubators and other facilities, which would support individuals with innovative ideas who lack existing connections. “Can we create a society, or a whole 200 or 100 or 500-acre area… and see if we can create such an ecosystem where incubators exist… or where someone from a very distant place with an idea but no connections can land… like people once used to go to Mumbai,” he remarked.
This new initiative aims to provide a fertile ground for startups, potentially transforming the entrepreneurial landscape across India.
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